Bank of Israel Governor Karnit Flug gave her first press conference to foreign journalists since being appointed to the position late last year and almost immediately found herself navigating around sticky questions about politics rather than economics. Read More »

While politics remains at the front and center for now, Egypt’s economy continues to flounder – and needs some urgent attention too.

The Arab country’s new finance minister on Wednesday said GDP is expected to grow around 2-2.5% this year, lower than what his predecessor had predicted. The budget deficit is also likely to be wider than previously thought, while foreign reserves are still overly dependent on Gulf deposits. Read More »

It’s been a tumultuous few years for EFG Hermes, the Arab World’s largest investment bank. Rocked by political instability in its domestic market, the Egyptian firm saw profits decline. In addition, it tried to partner up with Qatar’s QInvest, a proposed deal that collapsed last year.

A new government in Egypt and billions of dollars in financial support from countries in the Persian Gulf has helped to prop up the country’s fragile economy, making EFG Hermes hopeful it can turn the page on one of the most difficult chapters in its history since inception in 1984. The bank’s recently appointed co-chief executive Karim Awad talks to The Wall Street Journal about recent developments in the bank’s home market and beyond. Read More »

On its face, Arabtec Holding’s deal to build a million homes in Egypt looks like a game-changer. But analysts say the $40 billion project comes with execution challenges that even one of the Middle East’s biggest construction companies may have a hard time surmounting. Read More »

India needs energy – lots of energy – to sustain economic growth, increase living standards and bring the country to its next stage of development. In the future, more of that energy will have to come from renewable sources like solar, wind and hydroelectric power plants, a fact that foreign investors like Abu Dhabi’s Taqa are counting on to generate returns as they pour billions of dollars into new and existing projects. Read More »

Kuwait’s new oil minister Ali Saleh al-Omair, appointed last week in another government reshuffle, faces a number of obstacles if he wants to push ahead with the country’s ambitious plan of reaching 4 million barrels a day of oil production by 2020.

Mr. al-Omair, who has been a lawmaker since 2006 and is a member of the Islamic Salafi Alliance, is known for his pro-government views but unlike his veteran predecessor Mustapha al-Shamali, he doesn’t enjoy the support of the chief executive and board of state-owned Kuwait Petroleum Corp., or KPC.

“Shamali is a strong man who knew KPC well from his days as a board member and he has faced parliamentary pressure before as a finance minister so he could have pushed through many delayed projects,” an industry source said. “Kuwait wanted to balance the cabinet by appointing a lawmaker who may be able to talk his way through the parliament but it is very likely that not much will change and the political bickering between the government and the parliament will continue despite his unusual choice.” Read More »

For many Egyptians, General Abdel Fattah Al Sisi – head of the country’s military that ousted Egypt’s first freely elected president in July – is the leader most likely to instill stability amid political and economic chaos there since the 2011 revolution.

The corruption probe that has rocked Turkey’s government since Tuesday has snared more than 50 people including ministers’ sons, public officials and high-profile businessmen, threatening to undermine political stability ahead of crucial elections early next year.

The public prosecutors’ office revealed Wednesday that three investigations into alleged cases of bribery, money laundering and corruption had started already in September 2012. Prime Minister Recep Tayyip Erdogan said on Wednesday that the probe is part of a plot to topple the government.

Prior to the investigation, the ruling Justice and Development Party, or AKP, was expected to comfortably win the local elections on 30th of March, as several surveys showed more than 50% support for the ruling party in October. The Wall Street Journal spoke to the heads of Turkey’s top pollsters, to see if the probe could affect the outcome of the local elections. Read More »